Enterprise Forests of Ukraine ranks among top 3 contributors to 2025 state budget with UAH 5.9 bln in dividends

State-owned enterprise Forests of Ukraine ranked among the top three contributors to the state budget in 2025, with UAH 5.9 billion in accrued dividends, more than four times higher than in 2024 (UAH 1.3 billion), the company’s press service reported on Facebook.

According to the report, the largest dividend contributors also included JSC NNEGC Energoatom (UAH 9.3 billion) and PrJSC Ukrhydroenergo (UAH 6.3 billion).

As noted, citing the Ministry of Economy, Environment and Agriculture of Ukraine, the growth was driven by systemic changes, including open sales of timber products, a shift to procurement via Prozorro, abandoning non-core activities, and cost optimization.

According to the enterprise, in January–March 2026 timber harvesting volumes increased to nearly 3 million cubic meters, up 50% compared to the same period in 2023. Net revenue for the period rose by 87% to UAH 8.6 billion, while pre-tax profit increased by 273% to UAH 3 billion. Profitability reached 34.9% for the quarter.

Tax payments by Forests of Ukraine in the first quarter of 2026 increased by 166% compared to the first quarter of 2023, reaching UAH 4 billion.

As of early May 2026, the enterprise had increased timber harvesting by 560,000 cubic meters compared to last year. Its share in the country’s total harvesting volume rose from 83% to 88%.

Forests of Ukraine has now launched a modernization program to transition to mechanized timber harvesting. Last week, the first contract was signed for the supply of harvesters from Sweden. The program also foresees upgrading the firefighting equipment fleet and the operation of a modern seed center.